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Outlook Deteriorates Sharply *RES 4:....>

CABLE TECHS
CABLE TECHS: Outlook Deteriorates Sharply
*RES 4: 1.3215 High Feb 3 and key resistance
*RES 3: 1.3129 76.4% retracement of the Feb 3 - Feb 20 decline
*RES 2: 1.3070/75 High Feb 13 / 61.8% of the Feb 3 - Feb 20 decline
*RES 1: 1.3030/70 50-dma / High Feb 5 and 13
*PRICE: 1.2782 @ 16:54 GMT Feb 28
*SUP 1: 1.2753 Low Feb 28
*SUP 2: 1.2736 50% retracement of the Sep - Dec rally
*SUP 3: 1.2700 200-dma
*SUP 4: 1.2669 2.0% 10-dma envelope
GBPUSD traded lower again Friday. The pair has failed thus far to build on the
recovery off last Thursday's low and Friday's fall shifts the outlook materially
weaker. The break below 1.2849 in particular has punished bulls, opening a
broader move lower toward the 200-dma at 1.2700. Ultimately, a break above
1.3070, Feb 13 high is required to signal a developing bullish theme.

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